UK-based fashion and lifestyle retailer, Ted Baker has announced that during the third quarter ended on November 12, 2016, its Group revenue zoomed 14 per cent. On a reported basis, retail sales increased 15.4 per cent (or 6.7 per cent in constant currencies). Wholesale turnover for the period also increased by 13.2 per cent (or 6.7 per cent in constant currencies), reflecting good performances from both its UK and North American businesses.
Additionally, e-commerce sales of Ted Baker increased by 30.3 per cent, making up 16 per cent of total retail sales.
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As the fashion brand continued to do well with its licensed stores in Dubai, South Africa and Mexico, it expanded its retail space by 8.8 per cent during the period, suggesting much of its sales growth came from new locations. It opened stores in Atlanta, Miami and Calgary, as well as more concessions in premium department stores in China, Germany, Japan and Spain.
The Group now expects low double-digit wholesale growth (in constant currencies) for the full year. However, these results will be dependent on trading conditions over the coming Christmas period.